Assessment Reopening Invalid: No New Evidence Justifying Income Escapement u/s 147 of Income Tax Act.

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....Validity of Reopening of assessment u/s 147 - Explanation (2) would be of no avail to the Department. - Test the correctness or otherwise of a methodology adopted by the petitioner for a claim of expenditure, it would, in my view, be appropriate to test whether such claim, and the methodology adopted for making such a claim, had been placed before the Authority even at the first instance. The answer in this case is in the affirmative. The successor officer has not come into possession any other information to indicate escapement of income but merely relies upon the methodology adopted by the petitioner to apprehend escapement of tax. In such circumstances, resort to Section 147 is, in our view, impermissible. - HC....